The company expects the combined Alvheim and Vilje projects to reach peak net production of approximately 75,000 barrels of oil equivalent (boe) per day by early 2009.
The Alvheim and the neighboring Vilje developments are estimated to contain gross resources of approximately 250 million boe. Marathon has a 65% interest in the Alvheim fields and serves as the operator. Marathon holds a non-operating 46.9% interest in the Vilje field, a subsea development tie-back to the Alvheim.
The Alvheim floating, production, storage and off-loading vessel has a nameplate capacity of 120,000 barrels per day of oil and 125 million cubic feet per day of natural gas with total storage capacity of 560,000 barrels of oil. It is located about 224km from Stavanger, Norway, in approximately 125m of water.
Marathon’s partners in the Alvheim development are ConocoPhillips Skandinavia with a 20% working interest, and Lundin Norway which holds the remaining 15% interest.
